Question

At a certain rate of simple interest, a sum becomes ₹9,430 in 3 years and ₹11,070 in 7 years. Find the sum.

• A. ₹8200
• B. ₹8000
• C. ₹8350
• D. ₹7800

Answer 1

Answer:

A. ₹8200

Given:

• Amount after 3 years = ₹9,430

• Amount after 7 years = ₹11,070

  Find interest for 4 years

$11070 - 9430 = 1640$

So, interest for 4 years = ₹1640

Interest per year

$\frac{1640}{4} = 410$
Find Principal

Amount after 3 years = ₹9,430
$P + 3 \times 410 = 9430$
$P + 1230 = 9430$
$P = 9430 - 1230 = 8200$

₹8,200